A Detailed Overview for Investors
The dynamic growth of Charlotte has been a focal point for investors and property enthusiasts over the past years. However, the expansive narrative often overlooks a significant trend: the rapid and robust growth of the suburban towns encircling Charlotte. As potential property investors explore the vibrant Charlotte Metro area, understanding the nuanced growth trajectories of these suburbs becomes crucial.
Digging Into The Numbers
Recent U.S. Census Bureau findings have unveiled an interesting shift. These suburbs collectively added more than 10,000 residents between July 2017 and July 2018. In comparison, while Charlotte, fondly known as the Queen City, welcomed 13,151 new residents, bringing its tally to an impressive 872,498 (establishing its position as the 16th largest U.S. city), its growth rate of 1.5% was overshadowed by its surrounding towns. To offer a broader perspective, Charlotte’s numeric ascent was the fifth-highest on the national level.
Spotlight on Suburbs for Savvy Investors
Are you wondering which suburbs around Charlotte, NC are proving to be the best to buy a rental property? Here’s a brief list:
- Mint Hill: Boasting a population of 27,169, it exhibited a growth rate of 1.5% within the year and a remarkable 19.6% since 2010. As Mint Hill undergoes a developmental renaissance, its roots in equestrian culture remain, offering an idyllic blend of modernity and heritage. This mix is an enticing proposition for those keen on investing in areas with character.
- Matthews: With its 32,635 residents, this suburban gem mirrored Mint Hill’s annual growth but edged ahead with a 20% growth from 2010 onwards. Matthews’ burgeoning downtown is transforming into an investor’s dream, with prime real estate opportunities surrounding establishments like the Carolina Beer Temple and the increasingly popular Brakeman’s coffee shop.
- Pineville and Mooresville: Both suburbs reflected a growth of 1.6% annually. Pineville, with its up-and-coming McCullough development, and Mooresville, known for its affinity with NASCAR drivers, present varied and exciting opportunities for investors.
- Huntersville: Fast approaching a population of 57,000, its growth trajectory of 1.6% over the year, coupled with attractions like Birkdale Village, marks it as an attractive hotspot for potential investors.
- Davidson: Known for its picturesque setting by Lake Norman, Davidson has a population of approximately 13,000. The suburb has seen a steady growth rate of 1.4% over the past year and an accumulated growth of 18.2% since 2010. With the renowned Davidson College as its cornerstone, the town offers a blend of academic vibrancy and lakeside serenity, making it a promising area for investment.
- Belmont: Nestled by the Catawba River, Belmont is growing rapidly, with a population nearing 12,000. The suburb has experienced a growth of 1.8% over the past year, with a significant 21% jump since 2010. Its charming downtown, featuring spots like Stowe Park and the historic Belmont General Store, is a testament to Belmont’s allure for both residents and potential investors.
- Kannapolis and Harrisburg: These suburbs have showcased consistent growth patterns. Kannapolis, known for its association with the Earnhardt racing family, witnessed a growth of 1.7% annually, while Harrisburg, with its blend of residential tranquility and commercial drive, recorded a 1.5% growth. Both suburbs offer unique investment avenues to tap into untapped potential.
- Concord: A city with deep historical roots, Concord’s population is now over 94,000. Its growth rate of 1.6% in the past year, along with attractions such as the Concord Mills Mall and Charlotte Motor Speedway, make it a hub for residents and investors. Concord’s commitment to revitalizing its historic downtown has also drawn significant attention, further enhancing its investment potential.
It Gets Better
The opportunities don’t stop here. Each suburb offers unique investment prospects, from the beachy allure of Cornelius’s Ramsey Creek Park to the urban buzz of Rock Hill’s downtown. Notable mentions include Stallings’s ambitious downtown redevelopment plans and Wesley Chapel, welcoming commercial expansions like the Greco Fresh Grill.
Suburbs like Mount Holly and Tega Cay, experiencing growth rates exceeding 3% and 5%, clearly indicate areas ripe for investment. Waxhaw stands out with its 6.4% annual growth, and its pedestrian-friendly downtown region filled with craft breweries and luxury apartments presents a golden opportunity.
However, the crown jewel in the suburban growth story is Fort Mill. Its astonishing 13.2% growth over a single year and an 83.6% increase since 2010 position the area around Baxter Village as an epicenter of development and an undeniable magnet for savvy property investors.
Final Thoughts for Investors
Charlotte’s expansion is indisputable. However, for those with a keen eye for emerging markets and untapped potential, the surrounding suburbs are real estate destinations to watch. Their harmonious blend of modern amenities, local attractions, and a commitment to preserving their unique identities makes them ideal for residents and an exciting playground for property investors.
Let Henderson Investment Group guide you through these promising terrains and ensure your investments realize their full potential. Sign-up now to get started!